FDI Firestone Diamonds Plc

TIDMFDI

RNS Number : 8889P

Firestone Diamonds PLC

15 October 2019

15 October 2019

Firestone Diamonds plc

("Firestone" or the "Company")

Update to production disruption due to power fluctuations

Further to the announcement on 4 October, the Company advises that, whilst every effort has been made over the past week to identify and to resolve the power issue, the Liqhobong mine remains without sufficient power to operate the processing plant. The Company has therefore initiated contingency measures to restore power by alternative means within the coming weeks. In the meantime the Company will continue to engage with both the Lesotho Electricity Company (LEC) and ESKOM, South Africa's power utility to try to resolve the interruption of grid power to the mine.

The Company has placed an order to hire diesel generator units with which to run the mine's processing plant. All units are scheduled to arrive on site by the end of October and to be fully operational shortly thereafter, during early November. The generators are expected to be used to generate power until grid power is restored from the Muela Hydropower Station, which we are informed will take place on 1 December 2019. Normal operating costs are expected to increase by the cost of renting the gensets and of the associated diesel consumption.

For more information please visit: www.firestonediamonds.com or contact:

 
                                              +44 (0)20 3319 
 Firestone Diamonds plc                        1690 
 Paul Bosma 
 Grant Ferriman 
 
 
 Macquarie Capital (Europe) Limited 
  (Nomad and Broker) 
  Nick Stamp                                  +44 (0)20 3037 
  Alex Reynolds                                2000 
                                              +44 (0)20 7920 
 Tavistock (Public and Investor Relations)     3150 
 Jos Simson 
 Gareth Tredway 
 Annabel de Morgan 
 

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END

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October 15, 2019 09:03 ET (13:03 GMT)

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